In a bold move to shape the digital destiny of UP, the state government has launched the Global Capability Centres (GCC) Policy 2024, a far-reaching initiative designed to invite world-leading corporations and ignite a new era of technology and innovation across its key cities.
Noida, along with Lucknow, Kanpur, and Varanasi, stands at the forefront of this ambitious transformation, as the policy aims to attract Fortune 500 giants, boost foreign direct investment, and generate over 2 lakh high-value jobs within five years. The blueprint is filled with opportunity, crafted not just to accelerate economic progress but to empower the dreams of Uttar Pradesh’s rising youth.
As per the government’s statement, “This will strengthen the roadmap to make UP a 1 trillion dollar economy.” A symphony of economic reforms and modern infrastructure will set the stage for global players to enter with confidence.
To win investor trust and spark massive inflow of capital, the policy offers a bouquet of benefits — including subsidies on land (30 to 50 per cent), 100 per cent stamp duty exemption, and capital support of up to Rs 25 crore depending on the GCC level. There’s also SGST reimbursements, interest subsidies of 5 per cent, and operational assistance capped at Rs 80 crore for advanced setups. In a nurturing gesture for employment, companies will enjoy payroll support up to Rs 1.8 lakh per employee.
The policy outlines two categories of GCCs. For Level-1, firms must either invest Rs 15 crore or hire 500 individuals outside Gautam Buddha Nagar and Ghaziabad, while the threshold in these districts rises to Rs 20 crore. Advanced GCCs must invest Rs 50 crore outside these zones or Rs 75 crore within, along with employing at least 1,000 professionals.
Moreover, the vision stretches beyond the present. With customised incentive packages tailored for global titans or Indian top 500 corporates bringing in over Rs 100 crore in FDI, the government is setting the stage for long-term commitment.
In a thoughtful move for the startup ecosystem, support flows into ideation, patents and innovation hubs, offering up to Rs 2 crore for startup ideation, IPR support of Rs 5 to 10 lakh, and grants of Rs 10 crore to establish centres of excellence.
Uttar Pradesh is not just scripting growth — it’s composing a future where technology, talent, and trust converge.
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